Belgian startup e-peas, a supplier of advanced energy harvesting solutions, has just completed its latest funding round of €8 million. The funding round was led by Partech and Airbus Ventures, with KBC Focus Fund, W.IN.G, Noshaq Ventures, LeanSquare, Nivelinvest and Vives also contributing.
In the future, society will need to shift towards energy sources that have less ecological impact. Tens of billions of connected IoT and edge computing devices are now starting to be deployed and activity will keep on ramping up in the decades ahead. Reliance on disposable batteries in this context is simply impractical – with heavy network maintenance costs being incurred (as depleted batteries will need replacing periodically), along with huge damage to the environment.
e-peas (2014) is uniquely positioned within this sector, serving as a one stop shop for customers’ energy harvesting requirements and enabling their hardware to be powered indefinitely. The company is successfully addressing opportunities in industrial, home/building automation, agriculture, health monitoring, smart metering and other sectors. Over the last 3 years, it has been continually broadening the scope of its Ambient Energy Manager (AEM) product line. This now covers solar, thermal, vibration and RF methods for extracting energy from IoT devices’ surroundings – thereby making them completely energy autonomous. The imminent introduction of ultra-low power processing and sensing solutions will bolster the e-peas portfolio still further.
With ever increasing demand for its ground-breaking technology, a rapidly expanding sales pipeline to attend to, plus exciting innovations under development, the startup is on a roll. It will use the funds to also open new offices worldwide, to strengthen its commercial presence.
Romain Lavault, General Partner at Partech commented: “Since our initial investment in 2017, we have been incredibly impressed by how Geoffroy and Julien have transformed a small R&D company into a recognized leader in low power IoT and edge computing with prestigious clients around the world. Geoffroy and Julien have also put the company in scale-up mode with the arrival of very experienced talents like Jean-Paul Bardyn and Christian Ferrier, have quadrupled the size of the team, and have developed an active commercial pipeline worth 500M$ over 3 continents. We are proud to be supporting e-peas again on their journey to make the world run battery-free.”
Matthieu Repellin, Investment Manager at Airbus Ventures also commented: “With its exceptional low-power ICs, e-peas is a key attractive partner for all those considering the design and deployment of energy-efficient autonomous devices at scale. e-peas has been a model in terms of execution and reliability. We are thrilled to continue supporting this outstanding European team through its fast-accelerating journey.”